Gathering data to build out reports and using Business intelligence tools are becoming increasingly important for business today no matter the size. They allow you to track key performance indicators and the overall wellbeing of the business. This will allow you to make well informed decisions.
You can track all kinds of metrics to find out who your most productive employees are. Once you have this information, you can then find out what methods they are using and use that to help improve the rest of your workforce.
Most companies can tell you who their biggest customers are, but can they tell you who is their most profitable? Can they tell you which companies pay on time and which are regularly late? More information can tell you where to focus your attention.
Inventory can be one of the company’s most significant investments. That inventory can also take up quite a bit of space. Many do not have much insight into that inventory. This insight can help significantly improve cashflow while also saving space in your warehouse.
Sales are the engine of most companies. It is essential to have data to back up your sales activities. Conventional processes you have implemented may not work anymore. You want to be able to show your sales teams what activities drive the sales cycle and create the most opportunities.